Sixth Week Of Cryto Inflows Total Over $261M, 2023 Officially Eclipses All Of 2022

Digital asset investment products have recorded a sixth consecutive week of inflows, amassing a total of $767 million.

This recent influx has notably eclipsed the entire inflow of $736 million observed in the previous year.

Such a bullish streak has not been seen since the end of the 2021 bull market and mirrors the robust inflow period of July 2023, according to Coinshares. Bitcoin BTC/USD captured the majority of these inflows, with $229 million pouring into the cryptocurrency.

Also Read: EXCLUSIVE: Crypto Payments Here To Stay, Solana Exec Says - 'US Risks Losing Talent'

The current investment fervor aligns with broader discussions on the future of digital assets — a topic that will be extensively explored at the upcoming Benzinga's Future of Digital Assets conference, scheduled for Nov. 14. The conference is set to bring industry leaders and investors together, providing a fertile ground for discussions that reflect the current positive investment trends.

Additionally, there has been a noted $4.5 million injected into short-Bitcoin products, suggesting a segment of investors speculates the recent rally might not be sustainable.

Ethereum ETH/USD, after facing a tough year with outflows totaling $107 million, has witnessed its largest inflow since August 2022, with $17.5 million.

This resurgence in investor interest in Ethereum could signal a shift in market sentiment as the platform continues to solidify its position in the digital asset space.

Investment is not solely concentrated in the larger cryptocurrencies.

Altcoins also experienced a wave of inflows:

• Solana SOL/USD, $11 million
• Chainlink LINK/USD, $2 million (17% of total assets under management)
• Polygon MATIC/USD,$800,000
• Cardano ADA/USD, $500,000

The U.S. is leading the regional inflow charts with $157 million, while traditional European financial hubs like Germany and Switzerland, along with Canada, follow suit with inflows of $63 million, $36 million, and $9 million, respectively.

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Industry titans BlackRock, DTCC, OCC, State Street, Société Générale, Hedera, Citi, BMO, Northern Trust, Citibank, Amazon, S&P Global, Google, Invesco, and Moody’s will join our November 13 Fintech Deal Day and November 14 Future of Digital Assets. Secure a spot here to join them!